Largest utility adopts partners to fund small renewable generation projects

GMP, partners aim to make small generation affordable

Jan. 22, 2013

Written by

Dan D’Ambrosio

Free Press Staff Writer

Vermont’s largest utility has partnered with an insurance giant and a local venture capital firm to pilot an innovative way to finance solar projects across the state.

Mary Powell, president and chief executive officer of Green Mountain Power, said in a prepared statement Tuesday that the collaboration with National Life Group in Montpelier and Green Lantern Capital in Waterbury is a “great way to increase the number of small renewable generation projects throughout the state.”

“We embarked on this project as a way to support our customers who want to lease solar arrays, and we are pleased that one of the projects will contribute to our goal of making Rutland the regional solar capital,” Powell said.

Solar farms utilizing AllEarth Renewables’ Vermont-made AllSun Tracker were installed this fall and earlier this winter at the Poor Farm in the city of Rutland, Cold Hollow Cider Mill in Waterbury, Woods Market Garden in Brandon, and the town of Williston. The projects generate a total of 600 kilowatts of power.

Andrew Savage, director of communications at AllEarth Renwables, said the lease payments Cider Hollow makes on the $650,000 solar farm will be more than covered by its savings on electricity, resulting in an overall savings of $2,000 annually.